OSN+ and Anghami Merge to Create Media Powerhouse

Startups in the Middle East and North Africa region have made significant strides during the holy month of Ramadan and the subsequent Eid Al-Fitr celebrations. One of the standout developments was the successful merger of UAE-based online streaming platform OSN+ and Lebanon-originated music streaming service Anghami Inc., creating a unified media entity valued at $50 million. OSN+ now holds a majority stake in Anghami, signaling a notable consolidation in the regional media landscape.

Another noteworthy collaboration is the joint venture between Saudi Arabia's Public Investment Fund subsidiary SITE and South Korea's cybersecurity firm AhnLab. With an investment of over SR500 million, the venture aims to enhance digital solutions in the Kingdom and localize cutting-edge cybersecurity technologies for the MENA region.

Oman's Mubashir, a digital out-of-home advertising network, secured an investment from ITHCA Group to fuel its expansion and technological enhancement, positioning itself for growth in the evolving DOOH marketing sector.

In the UAE, Fasset's app has officially launched in the digital asset exchange arena after securing the Virtual Asset Service Providers license from Dubai's Virtual Asset Regulatory Authority. This move allows Fasset to offer virtual asset brokerage services globally, catering to both retail and institutional investors.

These developments underscore the region's growing prominence in the tech and startup ecosystem, with a focus on innovation, strategic partnerships, and market expansion. The future looks promising for these ventures as they continue to drive technological advancement and economic growth in the MENA region.